facebook.com/realtrishregan or @trishintel. a nice rally going on, 91 points we're up on the dow. liz claman is going to take you into the close of trading. liz. liz: i sure am. breaking news, we are about to find out if the companies you own made or lost money as quarter after quarter hits earnings season right now. presidential candidates trying to drum up support all over new york state today, and wherever they are fox business is there. we're bringing you the latest details from the campaigns in just a moment. flirting with 40, crude oil settling at $40.36 a barrel and with just days until that important opec powwow in qatar will we see $30 before we see $60? our experts give you the crude reality. more problems for baby buffet.

what billionaire activist investor bill ackman's next move is after the ceo of one of his largest holdings now faces a senate subpoena over price hikes on three of its drugs including female viagra? charlie gasparino has the details you won't find anywhere else. and a golden girl no more. is this the death knell for ceo marissa mayer? we're less than an hour to the closing bell, let's start the "countdown." ♪ ♪ liz: here we go. you're in the right place with less than an hour left in today's trading session. the markets are moving higher. it's interesting, because first we were paring a whole bunch of gains, now we're getting them back. the nasdaq adding on about a third of a prosecutor to the gains right now -- third of a percent to the gain right now. even the russell 2000, small and mid caps, moving higher by a

quarter of a percent. as i just mentioned, in less than an hour alcoa kicks off earnings season. aluminum company of america. the street is expecting earnings of two pennies per share. in advance of those numbers alcoa is moving higher by 4.5%. they're often considered a proxy for big many manufacturing x they are not just aluminum anymore, they are going into all different metals. in fact, they split off from one of the businesses s so this is a company that is very important to the manufacturing world. speaking of manufacturing, total recall. tesla recalling 2,700 of its model x suvs today, yes, the one with the gull wings. what's the problem? not with those doors, it's with the seats. customers are being warned that they should not sit in the third row seat of the vehicle until it is replaced. because it may collapse in an accident. by the way, there have been no reports, no reports of incidents of this happening, but the

company decided, hey, you know what? just to be safe we better do this because they did lots of crash tests, and that's what led them to issue the recall. interestingly enough, shares up two-thirds of a percent, moving and wiggling all over the place, but at the moment, green on the screen for tesla. barely a new york minute until the april 19th new york primary and candidates are fanning out all over the state working to raise support. team fox business relentless as a doberman pincher with a pile of steaks. you thought i was going to say pit bull. no. following the candidates' every single move, adam shapiro on long island where hillary clinton is campaigning. pierre barnes tracking -- peter barnes tracking john kasich in troy, new york. because donald trump is chasing after senatoted cruz swept up a chunk of delegates, we need to tell you cruz took all of the delegates up for grabs at colorado's state convention saturday without, this is weird,

any votes cast by citizens. weird except that them's the rules, folks. then today front-runner donald trump unleashed a new round of shots at the gop's nominating process calling it, quote, a crooked deal while paul man fort accused cruds of using -- cruz of using gestapo tactics across the country. listen. >> they weren't given a vote. this was given by politicians. it's a crooked deal. and i see it, honestly, i see it with bernie too. that's not the way democracy is supposed to work. what kind of a system is it? liz: kind of sticking up for bernie sanders there because he keeps winning, and yet his delegates respect as much as hillary clinton. meanwhile, senator bernie sanders did extend his winning streak against clinton after winning wyoming ahead of new york's primary. we told you that was going to happen. let's go to team fox business, adam shapiro starts you have first in port washington, long island, with the very latest, and we're talking latest,

because it's all happening right now, adam, right? >> reporter: that's right. hillary clinton just it should about ten minutes ago a discussion, it was a conversation about gun violence. and there were some pretty impressive people here; the daughter of the principal at sandy hook elementary, the tragedy that claimed the lives of 20 children and several adults, the mother of a young woman who was killed at the colorado theater shooting several years ago. those were just a few of the people on stage with senator clinton in her attempts to get the democratic nomination. let's talk first about what happened over the weekend with the republicans, because that has not died down. donald trump is comparing himself to bernie sanders, that the odds are stacked against them at that potentially this delegate voting is rigged in some ways because in colorado ted cruz got all 34 of the delegates even though they didn't have a primary or caucus, and mr. trump said, this is what he said, it was, quote: what they're trying to do is subvert the movement with crooked shenanigans because there was no

primary, there was no caucus or voting. so the latest polls show from fox news that trump in new york leads 55% to john kasich in second praise with 22% and ted cruz, 15%. now take a look at what's going on with the democrats. a new monmouth poll just out, hillary clinton has 51% in her favor, 39% for sanders. he's actually closing the gap. a fox news poll earlier this morning had the gap a little bit wider. 9% say they are not sure. and the delegate count for hillary clinton, this is when you add all of the delegates, the super delegates included, 1,756, for mr. sanders, 1,68. hillary clinton started her day at a $500-$2700 a plate fundraiser depending what kind of ticket you bought. she is now off to another fundraiser with congressman steve israel and tonight the suffolk county democratic party dinner. back to you. liz: adam shapiro.

we need to go back to this donald trump issue. he does hold this very important lead in his home state of new york. governor john kasich is in second place, as you saw. he's been canvassing the empire state in an effort to sway voters. he is expected to speak live in new york any minute, in fact, i believe -- is that live right there? okay. he's live right now. he has begun his speech. but he knows it's an uphill battle at least from the delegate standpoint. trump needs new york to get to the magic 1237 delegates to claim the gop nomination, but kasich is trying to get a bunch of those. peter barnes has been following governor kasich on the campaign trail. he's in troy, new york. upstate voters might relate to kasich's ohio style, but will that manufacturing meets agriculture vibe be enough to stop donald trump who's', obviously, in the lead? >> reporter: no, liz, probably not. but john kasich is speaking right now. his blue collar roots as a kid growing up in ohio, his dad was

in a union, union workers and hopes that plays well among voters here in upstate new york which is almost an extension of the rust belt with all those manufacturing plants that used to make textiles and all these other products for the world up here along lake erie and, of course, were decimated in one after another of these economic recessions and crises. but he is hoping to peel off a few delegates here because of the rules about, excuse me, i'm getting shushed. have to get 50% of the vote in each congressional district to get all of the delegates in that district. kasich is hoping to keep trump under 50% so he can pick up a few. trump is at 743 delegates, cruz at 545, kasich at 143. it's mathematically impossible for him to get to the 1237 from here. there are only 7-800 delegates left to compete for, so he's

hoping to go in along with ted cruz with enough votes to stop trump and force a contested convention. liz: and that's where he does well. that's where he does well, in that scenario, with a second or third vote with a contested convention. peter, thank you very much. shh. stop talking so loud. [laughter] peter barnes in troy. listen, you can talk about nabbing the agricultural vote, the manufacturing vote, but the business vote in new york is huge and critical. did you know that new york is home to 55 fortune 500 companies, seven of which are located outside of manhattan? so as the candidates make the rounds in the empire state ahead of next tuesday's primary, which candidate is the best fit for the business needs of new york whether he in the city or upstate? we have the right person to answer that question. he is fox business exclusive interview i, ceo and president mark jaffe. there is new york city and then there's new york state. but the one collective issue here is that there are so many fortune 500 companies.

i mean, we could roll them up and down, and you would see all of the huge names here. what are they looking for? >> well, you know, they're all diverse. i mean, they cover so many industries. and we're blessed in this campaign to have three candidates that are from new york. that increases our odds of getting new york business-friendly candidate in the presidency. but they're looking for equity, fairness, access to capitalling, streamlined regulations, good infrastructure and nice digs for their employees. liz: i'm interested that you just said streamlining regulation. i would think they'd want to cut back regulation in a major way because that really keeps small businesses -- and they're not on the fortune 500 but, boy, are they the heart and soul of what's happening in the business world in new york state -- makes them happier, right? they can start businesses without being needled by all these regulations, some of which are needed, but others which are not. >> well, a lot of people in government have never really worked at businesses.

and at the chamber of commerce, we're trying to get the word out what's effective. it is very important to keep small businesses happy, and our surveys indicate that a lot of these small business owners will be going to vote. a higher percentage of them go to vote. they have a lot at stake in this election, and they'll vote on a diverse pattern. they're not all democrats, they're not all republicans, they all have different opinions. liz: donald trump likes to say he's the only one who's actually paid people, he's written paychecks. he hasn't just signed paychecks -- well, you know what i mean. he's the one who's playing -- >> created jobs. liz: created jobs. is the chamber picking a candidate right now? >> again, we feel pressed that we have -- blessed that we have three candidates from new york, and we'd be foolish to pick a candidate now. people like donald trump because he is pro-business, has created job, and he's from outside of washington. people like hillary clinton because she has the experience, and when she was first lady, our economy did very well.

and she served us very admirably as u.s. senator and, of course, bernie. bernie's riding on this feeling that business and labor need to get closer together. a rising boat lifts all -- liz: a rising tide lifts all boats. but looking at one thing that's on the agenda and definitely going to happen is that minimum wage is going to rise from $9 an hour here in new york to $15 an hour. some people don't like that, some people love it. and what's interesting to say, like ken land gone who founded home depot, he says he agrees with governor cuomo on this. you have got to get wages up. while on the other hand, small businesses with maybe 14 employees or so say that is going to devastate me. i will either have to shut up, shut shop, or i will pay people more and raise my prices, and that may hurt my income. >> well, we've done studies and surveys, and home depot may be right. when you give the working poor

more money, there's one true fact that a lot of people are overlooking in their statements. they will spend it. it will invigorate the economy. we agree with governor cuomo on this and also he has, he's watching the economy. if you look at his budget, and we have a presentation about his budget wednesday with the labor commissioner down at brooklyn, trade brooklyn in the brooklyn marriott, one of our members, you will see that this invigoration of the economy also has protections. they'll be watching the economy, and they can stop the rise if it is hurting. liz: i hear you when you say it's a blessing that all three, three of the candidates here -- hillary clinton, bernie sanders and donald trump -- are from new york. but when you look at this list of big businesses in new york whether it's ibm or other companies, 21st century fox, news corporation, viacom's here, cablevision is on long island, barnes & noble, very different businesses. does a socialist like bernie sanders who really ripped general electric recently, is he really right for a business community?

>> well, bernie's going to have to learn that jobs are necessary, and the business leaders, small businesses, large businesses do create jobs. liz: yeah. but they can't like what his plan is, to take from everybody and sort of even it out which is classic socialism? >> socialism, progressive socialism, but you're now seeing more people and more cities looking at creating a more equal split of the pie. liz: right. >> these businesses cannot succeed without a work force, so one of the great things as you mentioned that the governor has done was to be able to, you know, put in the budget an increase in the minimum wage so that we will now attract a better work force, and that's going to be critical. liz: well, let's hope so. let us know when you guys are ready to pick a candidate, if you do. thank you. >> after the primaries i think we will do a survey, and maybe we can come back and tell you what we found. liz: we would love that. mark jaffe, greater new york chamber of commerce ceo and president. closing bell, we're about 45 minutes away.

yeah, we've cut off a bunch of the gains. 50 for the dow, but it's pulling back from where we were at the top of the hour even though we have a lot of green on the screen here. relief rally in play for financials. that's relief as you see goldman sachs at the very top jumping, stemming from the fact that goldman sachs announced, yes, we will pay a $5 billion settlement with the government over mortgage-backed security claims. claims by investors who lost billions that goldman steered them into questionable investments during the housing bubble. stock is moving up by 1.75%. not to be outdone in the winner column, coca-cola and pepsico, pepsico hit new record highs this morning before fizzing out just a bit. both are moving lower but also popping today, crude. surging to, as we mentioned, more than $40 a barrel. but this rally is too little too late for at least one major energy name rocking investors with bad news. who chopped the dividend? that's next on "countdown. ".

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and, boy, did they cut it. they cut it by 89%. this is bad news for investors who depend on that dividend for income. a lot of investors go into oil names because of the dividends. company also announced it expects revenue to decline 20% this quarter from the previous quarter. look at shares of nov, yeah, they're moving down five and two-thirds percent. that's not a surprise, but when you stretch it out 52 weeks, it's even worse, down about 50% over the past year. and that brings us to crude realities. it's not such a bad reality at least today. oil settled above $40 today. not so bad for the oil companies. just one week from today opec will be holding that important meeting in doha, qatar, to determine whether they and other non-opec nations like venezuela and russia will freeze production in order to combat low oil prices. and here in the u.s. rig count, as we found on friday, fell last week for the third week in a row.

so when you have less supply, will the price continue to go up? will these pressures send oil to $60 a barrel? $60 is actually the talk of the cme. jeff flock is with a trader at the nymex. 60, that's a big jump from 40. >> i think they'd like to get to 60, at least the folks in saudi arabia and the middle east would like to get to 60, because that's the point at which u.s. producers still have a question about whether they can make money or not, and the guys overseas would love to get there. the question is whether you do, and a lot of different opinions, liz, about what's going to happen at that meeting. our phil flynn says they wouldn't be getting together if they didn't think they could reach agreement, other prominent oil analysts say this is already getting baked in, and if they don't reach an agreement, look out below. liz: we've got to look at iraq, right, luke? iraq has said why would we suddenly agree to an output gap when we're finally getting back up to speed, and suddenly saudi arabia's saying, well, we're not going to do it if iraq's not

going to do it. what will happen, luke? what would get it up to $60 a barrel? >> a lot of the stuff you talk about oil is stuff you cover every day, but it doesn't have to do with the markets, and that's political risk. some of these governments are under a lot of pressure. the iraqi government with isis, the saudis down below in their southern border with yemen, the iranians, what the iranians are going to produce, the russian economy's in shambles right now. they need oil revenue. venezuela, you know what a mess that is. libya, the same thing. so when these guys get together, it isn't all going to be about the price of oil or production, it's going to be who's going to be able to last another six months. what are they going to do with these marginal producers. as you said, with the rig counts they've already put their foot on the throat of some of these marginal producers. they've gotten those people out of the way. now they have to decide how they're going to divvy up the pie, how they're going to secure their borders. liz: and here comes, jeff, the all-important summer driving season which really didn't materialize last summer at all.

but you already start to see signs of life when gasoline is coming down, when it comes to actual inventories. look, last month the price was $1.88 per gallon, today the average price is $2.04. so now we're back above $2. what does that say? >> not only that -- liz: about where we're going here? >> i think we've got to go higher. not only that, the pressure from the price of oil, but even if the price were to go down, you've still got the summer driving season and the summer blends to contend with. so that's some natural boost you get to gas prices right then. the good news i think though is that the economy's in a fairly decent place. the forecast for demand, demand has been solid. even in china, look at those demand numbers last month in china, up 25% in terms of imports for china. not so bad from a demand standpoint. liz: quick, luke, what's your prediction for gasoline by the end of the summer? higher or lower than where we are now? >> i think it's going to be a little higher.

there might be a lot of oil, but there's a limited amount of capacity to make gasoline and distilled products. liz: jeff and luke, thank you so much. we have 36 minutes before the closing bell rings. "the boston globe" released a front page that was fake. they hoped to never actually print this but say they may have to if donald trump wins his way to the republican nomination. this is a huge controversy, folks. do not put out fake news, it never works unless you're the onion. hoping to prevent a 2016 win from happening even more than "the boston globe" is that guy on your screen, ted cruz. after narrowing the delegate gap in the gop race further this weekend in colorado, the texas senator hitting the trail in california. as his wife heidi campaigns in new york. connell mcshaun standing by in minneola, long island, where mrs. cruz is meeting with voters hoping to sway them to her husband's camp. he will get you the live report next coming up on count lounge

to the -- "countdown to the closing bell."

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liz: while senator ted cruz heads west and campaigns today in california, he left one very important person behind here in new york. his wife, heidi. she's campaigning today on long island before heading to queens for a fundraiser tonight. connell mcshane has been on the trail following heidi and is in long island with the very latest. she's in that church behind you, as i understand it. listen, spouses can be real assets, can't they, in this case? >> reporter: yeah, i think so. it's interesting with the candidate himself having gotten himself, liz, into some trouble for some comments at the debate over new york values, maybe as we'll play for you in a second heidi cruz can be an asset with the way she sees the state of new york. she is in the church behind me speaking to supporters as we did earlier at her earlier campaign stop, and some of them made their case for cruz. listen.

>> he's the most pro-israel candidate out there. even though a lot of people are saying that trump is, but trump has stated in the national debate that he's only going to be neutral on israel while cruz is and has always been pro-israel. >> i think senator cruz is a constitutionalist, just a strong constitutionalist who will stand for our constitutional rights right down the line. >> reporter: those are the same types of arguments that we've heard in favor of cruz in other states where he's done much better than he's expected to do here in new york. but what's important in new york is that there are 95 delegates at stake a week from tomorrow night, and if cruz can just pick off some key districts, then they think that the movement to stop donald trump from getting to the magic number of 1237 may be helped along here. that's the goal for the cruz campaign. now, in terms of the new york values and all the comments that ted cruz had made and been criticized for, listen to what heidi cruz said earlier today.

>> new york state as to who ted is and what he will do for this great state, i started my career here in new york. i love the empire state. you gave me my first job, i paid my first taxes here, i paid my first -- [laughter] and so i love new york. i love being back. i love the industriousness, the energy, the incredible talent. and i love that people from all over the world have called new york home because it's been the gateway to this country for so many years. >> reporter: how about that, liz? heidi cruz, goldman sachs formerly, loves new york state. a little different, right? than what her husband has been criticized for saying. liz: well, yeah. those new york values. listen, if she met some of my floor crew, i get it, i mean -- [laughter] new york values. [laughter] liz: don't diss new york, okay? greatest city in the world, okay? >> reporter: yes, it is. liz: as they say in hamilton. thank you very much, connell mcshane, following heidi cruz here.

the closing bell is 29 minutes away. we just hit session lows for the s&p 500, so something's happening here. we're keeping a really close eye on it. s&p has turned negative, down two points. hillary clinton taking to the airaways this weekend while -- airwaves this weekend while blitzing through new york as she looks for a big win come april 19th. but the elephant in the room, of course, is hillary's e-mail server scandal which is still looming. and guess what? president obama did not do much to quell fears when he joined fox news sunday and chris wallace. what the commander in chief had to say about his former secretary of state. that's next on "countdown." follow me on twitter, and here's why: because i tweeted what i looked like over the weekend right before i had to do my taxes, okay? [laughter] @lizclaman. you will see that moment, what i looked like right before i got ready to go see mike. [laughter] facebook.com/lizclaman.

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liz: with a week and a day to go until the new york primary, democratic front-runner hillary clinton is leaving nothing to chance. she has released a brand new ad as part of her six-figure ad buy in the state. this time going after republican front-runner donald trump by name. she also used the sunday news circuit to hit her competitor, bernie sanders, for saying that israel's response to the palestinian group hamas has been, quote, disproportionate. of course, many of you know jewish-americans make up a significant voter bloc here in the empire state. hillary's focus seems to be working, the latest fox news poll has her up by 16 points. let's bring in the strategists. we have democratic strategist

simon rosenberg and columnist delaware roy murdoch. great to see you both. simon, they're all going for that so-called jewish-american voting bloc as you saw. when ted cruz gets to a notes saw factory -- [laughter] that would have impressed me. >> da fill that, not really a fish. >> and not very good either, by the way. [laughter] liz: now, that is -- that's up to debate. i lo it. i love it. i'm the one. simon, looking at the -- we've got a week. anything can happen in a week. we've seen people blow primaries, have we not? who holds this here for the democratic side? >> so look, in the last few weeks we've had a weakening for both trump and clinton. clinton's weakening, though, has not been so material. it's just been a shaving of her lead. you've seen bernie win a bunch of states now, he's raising a lot of money, but she's still the overwhelming favorite to go into the convention with enough

delegates to win this thing whereas with trump on the republican side, it now looks like the race has really changed. he may not get there. it's going to be much more difficult for him to win the nomination. the only thing that really changes this trajectory on the democratic side is if bernie wins new york. liz: well, it's harder to change the trajectory on the gop side here, deroy. donald trump has been well ahead, but on the overall delegate picture, he has an issue here. ted cruz got all of the delegates in colorado and south carolina, and suddenly donald trump doesn't like how that worked. it wasn't unfair when he was well ahead, right? >> well, look -- liz: still well ahead. >> ted cruz didn't change the rules in the middle of the game. perhaps trump and company didn't understand exactly how delegates are picked in colorado. they should have looking into that -- liz: should the rules be changed? you seem like a very sort of measured, not knee-jerk type of person. should the rules be changed?

>> i think certainly going forward we ought to look at this whole question of super delegates. liz: well, that's on the democratic side. >> the whole idea you have these super delegates, i think, violates the one-man, one-vote concept. liz: does donald trump have a fair complaint, or is this just sour grapes over the last two primaries? >> yeah, i think it's sour grapes now. again, these rules were not changed in the middle, they were known up front, and i guess his team was not focused, and that's to their disadvantage. liz: simon, what makes you nervous? we've got john kasich in second place in the state of new york, and if there is this contested convention issue, john kasich may very well stand some type of chance, at least he believes that. and up against hillary clinton, he's the one who does well. >> yeah. well, i think it's so, such a remote possibility that kasich comes out of this process. i should say that i have no idea what's going to happen on the republican side.

[laughter] >> it is -- >> it's really complicated. i almost feel it's more likely that paul ryan gets picked than john kasich at this point. look, it's going to be a messy thing. there's no easy resolution of what's about to happen on the republican side, and i think democrats feel if you've looked at polling over the last few weekings, things are starting to trend the democrats' way. it's starting to look like a year of opportunity for democrats, and i don't know there's much the republicans can do to change that now. liz: well, as we, as i mentioned about a week and a day before the new york primary. donald trump's, at least two of his children forgot to register to vote in the primaries, so they missed the deadline. >> oops. sloppy, huh? liz: well, if it matters to you. >> your dad's running for president, that seems like a pretty basic thing, don't you think? and he's been running -- liz: why weren't they registered before? >> absolutely. liz: does that mean they've not voted in the past?

>> it could be this would be the first vote, and they blew it. which would be amazing. liz: the dow jones industrials just turned negative, and we are pretty much at session lows for the dow and, again, this is very much -- and i know both of you would agree with me -- a pocketbook state. we just smoke to the chamber -- spoke to the chamber of commerce chief here of greater new york, mr. jaffe, and we all feel that business matters here. you have more than 50 fortune 500 companies throughout this state, simon and, therefore, this comes back to bernie sanders. why would a business person vote for him? [laughter] >> well, i think, i would be surprised if many people watching this show, for example, would vote for bernie. but, look, i think he's going to make new york close. you know, hillary in these polls is up in the high 40s and low 50s, sanders, you know, when he goes into a place and runs his ads and puts his ground game into place can make up a lot of ground. he's been overperforming in some of the recent states and that's why you're seeing hillary work

so hard. she's taking nothing for granted. >> i think ultimately ted cruz shouldn't take for granted the idea that trump is going to get over 50%. it's very competitive, and if ted cruz can keep him under 50, he'll get delegates, and he ought to talk all around new york state about his 10% flat tax which i think is the best idea of the campaign. liz: good to see both of you. you both have great ideas. simon and deroy, thanks so much. >> thank you. liz: as we were having that conversation, you saw the dow go negative. we're now down 7.75 points. this after we had been up well over 85 points. so what happens next? we are watching every single second as we head into the unofficial start of earnings season. alcoa's the name. it's still moving higher. bids for yahoo! are due exactly one week from today. embattled ceo marissa mayer looking for a deal to save not only yahoo!, but her reputation. and a foreign name suddenly jumps into the foray.

we've got the latest on that and much more. ♪ ♪

liz: okay. so we're back into the between for the dow jones industrials, but just barely. so we fumbled about 154-point gain. the nasdaq fumbled a 45-point-plus gain. right now the nasdaq is down 11. the s&p had been up 15, now down3, look as we get closer and closer to the earnings season here and we're about 12 minutes away? 11 and a half? people are getting nervous. they're selling because we had a nice little rally here. nothing to really be alarmed about, but we're keeping -- the. >> i'm 11 and a half minutes from happy hour. liz: it's happy hour somewhere. [laughter] and charlie will find that somewhere.

the sharks are beginning to circle on yahoo!. the united kingdom's widely-read tabloid the daily mail has suddennenly jumped into the pile of what is shaping up to be a bidding war for yahoo!'s web assets. what oh assets are there -- other assets are there? daily mail saying it is in preliminary talks about a possible offer of the success of the daily mail.com which aggregates all kinds of headlines. now, with bids due one week from today the big question is will marissa mayer be there to see this deal through? investors growing very impatient with her and the company's recent performance. that shock stock down more than 20% over the past year. right now it's up a paltry -- >> she's toast. liz: $36.44. you think so? >> done. come on. her whole strategy -- liz: she has the support of the board. >> had. liz she was fresh, brand new walking in, look at me, i have this background from google, all

this money, and revenues have gone down and down. >> yeah. product perp, not a visionary, bottom line. you need both. liz: i'm reading the yahoo! book, which is fascinating. >> well, this is all about you need a vision to turn it around. there was an amazing vision to turn ibn around when it was falling off the face of the cliff -- liz: howard shuts twice did it. >> steve jobs did it coming back to apple. she's a smart woman, but you need that, you know, that intangible -- liz: you need the vision. the vision's getting cloudier and cloudier with valeant, and now we have the baby buffett, of course, known as bill ackman -- >> why do they call him that? liz: he want withs to be warren buffett. he wants it. >> well, i want to be like, you know, woodward and bernstein, but, you know, i'm not, i'm me. he's him and, you know, his record -- liz: well, you need a deep throat and a -- >> i have a better chance given the fact of all the stories i've

broke, i have a better chance of being woodward and bernstein than he has of being buffett. this valeant play -- liz: now there's a subpoena wit, michael pearson. >> right. to appear before a senate subcommittee -- liz: because they raised prices on three separate trucks. >> right. liz: including female viagra. >> yeah. which is a whole other ball game whether that's, you know, what the efficacy of that. liz: right. not even popular. >> i will say this. we've been talking to my producer, brian schwartz and myself have been talking to lawyers about this. and, you know, the general consensus is he didn't break any laws. i mean, this guy did what he did within the parameters of the law by jacking up those prices so much. remember, valeant's -- what made valeant a wall street darling, how high was the stock, something like $250 a shower, it's now somewhere around 30, was because it bought companies and was able to extract, buy

their drugs and charge more money for those drugs. and do that within the law, apparently. congress might not like it, they may want to call this guy in, you know? he may be getting fired because of the controversy. he may have done some stupid things with the online pharmacy or maybe he didn't manage that very well, i don't know. liz: show a one-year because that's where you see this was a $253 stock, now it's a $31 stock. >> i'm just telling you whatever your opinion of michael pearson, the lawyers tell me that what he did was in, was essentially legal. same thing with martin shkreli, am i saying his name right? liz: shkreli. the hoodie ceo. >> right. same thing with him. you know, he got nailed and he's accused of creating some sort of a ponzi scheme or pyramid scheme within a hedge fund -- liz: he wasn't nailed for the price hike. >> no.

that's what i'm saying. what is pearson going to be grilled on before this committee? moral issues. is it, you know, it is going to be a lot of that, a lot of preening about drug pricing. you know, listen, the public will get an education on the law here, but if you think this guy's going to go to jail over this, not one person tells me that. they tell me what he did was completely, totally legal. you may not like the ethics, but that's the legal -- remember: drug pricing and this industry, highly, highly regulated industry. liz: it had a nice move last week, it is down today. >> it had a nice move on our story, apparently, about them possibly spinning off at least part of their bausch and loam subsidiary. ackman said they don't want to sell it. don't believe him. that is on the table. it's clearly something they're talking about. liz: charlie gasparino breaking it right here. seven minutes before the closing bell rings, dow is now down 6 points. one point we want to clarify before we head into the break,

and it comes to this delegate issue. if donald trump handedly, single-handedly won all 50 delegates in south carolina's republican primary in january, that does not mean he gets to keep all of them come the convention in cleveland. even though it's a winner-take-all state, that doesn't mean they have to stick with donald trump on the second, this is the key, the second vote in a contested convention. could go to a third vote, who knows what. but once that first vote is done, the delegates can then choose other candidates. we're going to have more on "countdown" throughout this day the next and the next because a lot of people want answers on this one. when we come back, look at this, the dow is about to possibly go positive. we've got some stocks that may work for you as we head into earnings season. stay tuned.

. . . . [bassist] two late nights in tucson.

blew an amp.but good nights. sure,music's why we do this,but it's still our business. we spend days booking gigs, then we've gotta put in the miles to get there. but it's not without its perks. like seeing our album sales go through the roof enough to finally start paying meg's little brother- i mean,our new tour manager-with real,actual money. we run on quickbooks.that's how we own it.

liz: we're about seven minutes away from earnings season. alcoa, just quickly checking, it is still up nearly 4% at the moment.

it will be the first sort of unofficial kickoff to the earnings season but let me bring in wbi funds president. he says overall earnings will not be good this quarter for most recent quarter. why are you so bearish? >> earnings have been struggling, slumping for quite some time now so i don't think that is going to change this quarter. estimates are that profits will drop again this quarter. i would expect to see that might companies beat? yes. but what does that look like year-over-year? we've seen a nice decline in earnings and revenue in general for. liz: only a bear says nice and decline in the same sentence. four out of five past quarters we've seen profits decline. that is true. we're watching markets decline at this moment. do you think there is nervousness for this earnings season erasing all the gains? the dow had been up 154 points a couple hours ago. >> i do. there is a big gap between price

right now and earnings underlying. the s&p is trading about 23 times price to earnings multiple. average is 15. average usually means that you have at least pretty food earnings. then you have an earnings expansion when people get very excited about stocks. we could see reversion to the mean. liz: even bears have stock picks you absolutely love. you have three of them. put them on the hot board. ameriprise, baby boomers, nice dividend. a.o. smith, water boilers and tanks. what is that, a housing play? >> this is housing play. housing has been recovering recently. a.o. smith is food play on recovering housing market. people have been spending money upgrading their homes. liz: regional bank, rn the st. oil patch cutting dividends with national oil well varco good to go into these names here. >> sure. based out of tupelo, mississippi. nice regional bank out of the south.

they have had nice earnings and revenue. there are plays where you find good companies trading at discount. liz: matt, thank you for being here, with bi funds. we'll put all of his picks up on the facebook page. [closing bell rings] there is the closing bell. we have weaker dollar. lowest level in eight months against the euro. david, melissa, pick it up from here. melissa: stocks ending the day in the red, i'm melissa francis. david: i'm david asman. this is "after the bell." at this hour, lots of action from the campaign trail after bitter battles for delegates in colorado, iowa, and wyoming left donald trump empty-handed and slamming the political process. ted cruz responding just moments ago. meanwhile in new york trump is gearing up for a big rally in albany show results after new poll show trump powering. we're eight days from the state primary he has to win. two key members about his team